Horsehead Holding Corp. has received initial approval from a court for $90 million debtor-in-possession financing that will allow the company to operate in the early weeks of the chapter 11 bankruptcy filing, the Pittsburgh Business Times reported today. According to a filing with the U.S. Securities and Exchange Commission, Horsehead plans to file a reorganization plan with the U.S. Bankruptcy Court for the District of Delaware by March 13, receive approval by May 27 and complete the reorganization plan by June 11. Missing any one of those dates would result in a default of the financing, Horsehead said in the filing.
